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Manasota Group Inc. (HZNB)

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Last Post: 11/24/2016 11:20:50 AM - Followers: 6 - Board type: Free - Posts Today: 0
excerpts from latest 10Q->


The Company is authorized to issue up to 25.0 million shares of its $.01 par value per share common stock. Each share is entitled to one vote and shareholders have no preemptive or conversion rights. As of September 30, 2011 and December 31, 2010 there were 1,809,912 shares issued and 1,770,139 shares of the Company's common stock outstanding. As of September 30, 2011 and December 31, 2010 the Company held 39,773 shares of treasury stock. Additionally, the Company has authorized the issuance of up to 1.0 million shares of its $.01 par value per share preferred stock. The Company's Board may, without further action by the shareholders, direct the issuance of preferred stock for any proper corporate purpose with preferences, voting powers, conversion rights, qualifications, special or relative rights and privileges which could adversely affect the voting power or other rights of shareholders of common stock. Effective October 22, 2009, the Company's Board designated, by amending the Articles of Incorporation., the Series A Preferred Stock, consisting of 5,000 shares with a liquidation preference of $1,000 per share. No shares of Series A Preferred Stock having been issued, effective June 17, 2011, the Company's Articles of Incorporation were amended to eliminate the designation of such series. As of September 30, 2011 and December 31, 2010, there were no shares of the Company's preferred stock issued or outstanding.




The Company's sole asset is the 7280 square foot building previously occupied by the Company and the Bank.  The building is leased to the Bank of the Ozarks under a three-year triple net lease expiring in September 2013.  The lease payments under the lease do exceed, by approximately $5,100 per month, the Company's debt service with respect to the three-year mortgage encumbering the Building, such mortgage is maturing in August 2013.  Rental income from the building is the Company's sole source of income and there is no assurance that net income therefrom will be sufficient to meet all of the other operating expenses of the Company.  The Company may, therefore, be forced to sell the building, pay off all its debts and distribute the net proceeds, if any, to its shareholders.





In the meantime, the Company may, if an appropriate opportunity arises, engage in a transaction with an operating company. 









 
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HZNB News: Amended Annual Report (10-k/a) 10/14/2016 03:07:40 PM
HZNB News: Annual Report (10-k) 10/12/2016 10:51:01 AM
HZNB News: Quarterly Report (10-q) 10/11/2016 11:23:24 AM
HZNB News: Quarterly Report (10-q) 10/11/2016 11:22:29 AM
HZNB News: Quarterly Report (10-q) 10/11/2016 11:20:48 AM
PostSubject
#60   HZNB is now fully compliant in their Financials: Renee 11/24/16 11:20:50 AM
#59   filings.. interesting piece of info.. of the 4 db7 10/11/16 11:57:31 AM
#58   Second alert on HZNB (now know as Manasota Renee 07/10/16 06:14:48 PM
#57   from the 12th.. find it very interesting and db7 04/15/16 03:50:58 PM
#56   Horizon Bancorporation Inc. changed to Manasota Group Inc.: Renee 12/08/15 04:10:17 PM
#55   i did last friday bobkubecka 11/19/15 01:23:56 PM
#54   Did anyone of you get .27 divy yet DeafTrader2 11/19/15 01:15:28 PM
#53   HZNB $0.0001 -0.0219 (-99.55%) DeafTrader2 11/19/15 12:17:57 PM
#52   Been a long time since I looked at ErnieBilco 10/09/15 11:25:54 AM
#51   Manasota Group, Inc. (f/k/a Horizon Bancorporation, Inc.) Announces Dividend db7 10/09/15 11:20:28 AM
#50   Renee, on your list you have their last db7 04/09/15 03:09:00 PM
#49   interesting action lately.. someone buying AND putting in db7 04/01/15 12:16:54 PM
#48   thanks! db7 02/24/15 04:45:09 PM
#47   Technically yes, shareholders would own a stake in Renee 02/24/15 04:40:27 PM
#46   Hi Renee, I find myself pondering this statement db7 02/24/15 01:20:47 PM
#45   HZNB is severely delinquent in filing their Financials Renee 02/22/15 10:07:43 AM
#44   Charles linkedin: db7 11/19/14 04:35:51 PM
#43   fresh press, ribbon cutting at our Bradenton building: http://www.bradenton.com/2014/11/18/5481236/r db7 11/19/14 04:04:18 PM
#42   connection?-> Brief Biography db7 11/19/14 03:55:19 PM
#41   hmmm, sure hope they were there to discuss db7 11/12/14 01:31:57 PM
#40   rounded out my position here today.. higher than db7 07/01/14 03:17:48 PM
#39   http://search.sunbiz.org/Inquiry/CorporationSearch/SearchResultDetail/EntityName db7 04/09/14 01:36:14 PM
#38   ! looks like they leased it out?--> db7 03/13/14 02:01:16 PM
#37   Note 4-Recent Developments db7 11/18/13 10:28:27 AM
#36   http://www.officespace.com/building/35178-900-53rd-Ave-E-Bradenton-FL-34203 db7 10/10/13 02:55:58 PM
#35   I'm gonna have to read that Q more ErnieBilco 07/19/13 05:12:10 PM
#34   so sounding like building sale isn't going so db7 07/19/13 05:01:41 PM
#33   from 10Q filed today, db7 07/19/13 05:01:03 PM
#32   10k filed, i'm wondering how they're going to db7 07/19/13 04:57:20 PM
#31   just filed 10Q for period 03/31/2012 db7 06/24/13 10:04:24 AM
#30   Looks like Bank of the Ozarks is utilizing db7 06/20/13 05:08:02 PM
#29   suprised they gave me those .12's.. interesting db7 06/10/13 02:03:07 PM
#28   $2,750,000... assuming 6% commission brings it down to db7 05/23/13 04:17:04 PM
#27   found the listing.. up for $2.75mil.. geez, that db7 05/23/13 04:13:56 PM
#26   even though they touch on current events in db7 05/23/13 09:36:32 AM
#25   "we do currently have a positive spread of db7 05/23/13 09:33:44 AM
#24   another very key piece i'm trying to figure db7 05/23/13 09:32:04 AM
#23   http://www.corporationwiki.com/Florida/Bradenton/charles-s-conoley-P397885.aspx ErnieBilco 05/23/13 09:29:57 AM
#22   Thats why we keep playing. ErnieBilco 05/23/13 09:25:14 AM
#21   "Principal payments of $29,923 and $1,483,777 are due db7 05/23/13 09:25:02 AM
#20   in 10k, "On April 26, 2013, we received db7 05/23/13 09:20:34 AM
#19   thanks for the local perspective.. it's good to db7 05/23/13 09:06:35 AM
#18   db - I have no bone to pick ErnieBilco 05/23/13 09:03:43 AM
#17   a few weeks ago i noticed several new db7 05/23/13 08:57:16 AM
#16   "At December 31, 2011, the Company has federal db7 05/23/13 08:55:25 AM
#15   db - Do you know how many of ErnieBilco 05/23/13 08:50:39 AM
#14   guess they were listening ;) j/k, --> db7 05/23/13 08:49:18 AM
#13   from 10k..and why i've been accumulating: db7 05/23/13 08:47:05 AM
#12   http://www.loopnet.com/Listing/17903209/900-53rd-Ave-East-Bradenton-FL/ db7 05/17/13 04:39:04 PM
#11   i keep hoping they sell this property and db7 05/17/13 04:35:27 PM
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